The following is a White House statement:
The conferences of the President during the last few days with the representatives of the Building and Loan Associations and the members of the Finance Committee of the Housing Conference relate to the consideration of better longview financing of home ownership and the present emergencies in small mortgages upon urban and farm property used for homes. No conclusions have yet been reached but in any event the projects discussed do not look to replacing the functions of the National Credit Pool among the banks as has been reported in some quarters.